The article is devoted to the analysis of export specialization of the countries with small economy of the Western and Northern Europe in conditions of growth of the international competition. The countries having the status of small economy, accept active participation in the international division of labor and show ability to carry out export by the most effective image. The done analysis allows to ascertain, that in the countries with small economy the specific structure of the industry expressed in hypertrophied development of separate branches which production has the guaranteed commodity markets in the world was generated and is not exposed to a strong competition from larger states having greater industrial potential, and the new industrial countries specializing on manufacture of the goods of low complexity with lower production costs. In an export portfolio of small countries the goods of a high and low degree science capacity are more widely presented. However, despite steady niches in export of the highly specialized goods of a different degree of complexity and science capacity, the countries with small economy use horizontal and vertical diversification of the export portfolio.